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BP plc (ADR) (BP), Exxon Mobil Corporation (XOM): Hedge Funds Are Crazy About PetroChina Company Limited (ADR) (PTR)

Is PetroChina Company Limited (ADR) (NYSE:PTR) an exceptional stock to buy now? Hedge funds are getting more bullish. The number of long hedge fund positions advanced by 1 recently. We’ll also look at it side-by-side next to a few peers, including BP plc (ADR) (NYSE:BP), and Exxon Mobil Corporation (NYSE:XOM).

In the 21st century investor’s toolkit, there are dozens of metrics market participants can use to track their holdings. A couple of the best are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can trounce the broader indices by a healthy margin (see just how much).

PetroChina Company Limited (ADR) (NYSE:PTR)

Equally as integral, bullish insider trading sentiment is another way to parse down the financial markets. Obviously, there are lots of reasons for an executive to cut shares of his or her company, but just one, very clear reason why they would initiate a purchase. Plenty of academic studies have demonstrated the useful potential of this method if shareholders know what to do (learn more here).

Consequently, let’s take a look at the recent action surrounding PetroChina Company Limited (ADR) (NYSE:PTR).

How are hedge funds trading PetroChina Company Limited (ADR) (NYSE:PTR)?

At year’s end, a total of 10 of the hedge funds we track were bullish in this stock, a change of 11% from the third quarter. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their holdings significantly.

According to our comprehensive database, Renaissance Technologies, managed by Jim Simons, holds the biggest position in PetroChina Company Limited (ADR) (NYSE:PTR). Renaissance Technologies has a $34 million position in the stock, comprising 0.1% of its 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, managed by Cliff Asness, which held a $11 million position; 0% of its 13F portfolio is allocated to the company. Some other hedge funds that are bullish include Ken Griffin’s Citadel Investment Group, David Costen Haley’s HBK Investments and Jason Adler’s AlphaBet Management.

As industrywide interest jumped, key hedge funds were breaking ground themselves. Clough Capital Partners, managed by Charles Clough, assembled the biggest position in PetroChina Company Limited (ADR) (NYSE:PTR). Clough Capital Partners had 1 million invested in the company at the end of the quarter. Mike Vranos’s Ellington also initiated a $1 million position during the quarter. The other funds with brand new PTR positions are Bruce Kovner’s Caxton Associates LP and John Overdeck and David Siegel’s Two Sigma Advisors.

What have insiders been doing with PetroChina Company Limited (ADR) (NYSE:PTR)?

Insider trading activity, especially when it’s bullish, is best served when the company in question has seen transactions within the past six months. Over the last half-year time period, PetroChina Company Limited (ADR) (NYSE:PTR) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to PetroChina Company Limited (ADR) (NYSE:PTR). Some of these stocks are TOTAL S.A. (ADR) (NYSE:TOT), BP plc (ADR) (NYSE:BP), and Exxon Mobil Corporation (NYSE:XOM).

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
BP plc (ADR) (NYSE:BP) 42 0 0
Exxon Mobil Corporation (NYSE:XOM) 54 1 5
Royal Dutch Shell plc (ADR) (NYSE:RDS.B) 0 0
Chevron Corporation (NYSE:CVX) 42 1 0

With the results demonstrated by our strategies, everyday investors must always monitor hedge fund and insider trading sentiment, and PetroChina Company Limited (ADR) (NYSE:PTR) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 37% between September 2012 and March 2013 versus 12.9% for the S&P 500 index. Try it now by clicking the link above.

Related tickers: PetroChina Company Limited (ADR) (NYSE:PTR), TOTAL S.A. (ADR) (NYSE:TOT), BP plc (ADR) (NYSE:BP), Exxon Mobil Corporation (NYSE:XOM), Royal Dutch Shell plc (ADR) (NYSE:RDS.B)

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